-offerinfiscalcliffnegotiationswith president obama takes away a white house argument thattherepublicanshaveno plan and puts medicare on the table for discussion. the republican counter-offer would raise $800 billion through tax reform and cut $600 billion from federal health programs, including raising medicare eligibility, another $600 billion cut from mandatory and discretionary spending, and factor inflation less in calculating social security benefits. "what we're putting forth is a credible plan that deserves serious consideration by the white house." in a three-page letter to the president calling democratic gains in the senate and mr. obama's victory a "status quo election," the republican proposal would raise half the amount as the president's plan and save $350 billion from medicare and medicaid. however, at the chicago fed, a gathering of 39 individuals from banking and manufacturing industries - including automakers and other sectors - say the economy is strong enough - barely - to withstand either party's direction. "the vast majority think the fiscal cliff's impact will n